Opendoor's Stock Skyrockets 175% Amid Hedge Fund Endorsement and Meme Stock Frenzy

Opendoor's stock surged over 60% following the announcement of a new CEO, who is the former COO of Shopify. The company also brought back co-founders to its board, fueling a meme stock frenzy and raising questions about whether these changes, potentially aided by AI, can turn the business around.

On July 22, 2025, Opendoor Technologies' shares experienced a significant surge, leading the revival of a meme stock rally. The stock showed volatile trading behavior throughout the day, including what was described as an "epic afternoon wipeout" during a wild roller-coaster trading session. This surge comes after renewed hype around Opendoor as a real estate stock attracting substantial market attention. The event involves active market participants reacting to Opendoor's stock movements, reflecting changes in sentiment and trading volume on this day.

Opendoor Technologies Inc., referenced by its stock ticker OPEN on Nasdaq, experienced another significant surge in its share price as part of a continued retail investor-driven rally. Over the recent trading period, OPEN shares increased by approximately 30%, adding to a meteoric rise driven primarily by retail buying interest. This trading frenzy has pushed the shares higher despite varying market opinions, positioning Opendoor as one of the latest 'meme stocks' benefiting from social media and online trading platform hype. The increase reflects intensified investor focus and heightened retail trading volume but specific dates, numeric price points, or additional financial metrics were not provided in the article.

Opendoor Technologies, an online home flipping company, experienced a significant stock surge of 90% in five days, with shares reaching $1.73. This rally follows a post by Eric Jackson, founder of EMJ Capital, who disclosed his investment position and forecasted an $82 price target for Opendoor. Jackson characterized Opendoor as a deep value turnaround opportunity, citing its potential revenue growth from approximately $5 billion in 2024 to $12 billion by 2029, cost-cutting efforts, market leadership, and potential positive effects of interest rate cuts. He also advocated for management reforms and improved operational execution, suggesting the stock could return over 1,000%. Opendoor went public in 2020 via a SPAC led by Chamath Palihapitiya but has struggled post-pandemic with inventory write-downs and no annual profits, causing its shares to fall from a peak of $35 and a market cap over $15 billion. Recently, the company was warned by Nasdaq of possible delisting due to its share price staying below $1 for 30 consecutive days. To address this, Opendoor announced a special meeting in late June to discuss a reverse stock split between 1-for-10 and 1-for-50 to increase share value. The stock's trading volume surged to nearly 250 million from an average of 85 million over 90 days, with notable interest from retail investors, especially on forums like r/WallStreetBets prior to Jackson's post. Jackson has a previous successful bullish investment record, including Carvana's stock, which rose from $11 to over $350 after his endorsement.